Single Family Rental Value Based on Comps vs. Income Stream

[Jithin Yohannan]

Hi All, 

I am in the process of buying my first property through a turnkey company in Indianapolis. It is a 4/1.5 bath located in the Lawrence neighborhood on 52nd street. Asking price is $75k (firm) and there is a tenant in place that is paying $900 a month on a lease through Septemper 2018. From what I can tell the rents or accurate for the neighborhood which has a C crime rating and is in the Lawrence school district (some schools getting 8 or 9 out of 10 scores). 

The issue is the comps have come in between 32 and 60k. Though there are some individual properties on the comp sheet that have a value well into 70k. 

My question is would I be safe buying the property based on the income stream alone. My strategy is to buy and hold for the long term. I will be financing with either 15 or 20% down and an interest rate a bit north of 5%. 

Would love to know your thoughts!